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Casey’s earnings jump, but revenues short of predictions


Ankeny-based Casey’s convenience store chain reported strong earnings in the third quarter, Iowa Public Radio reported, but Nasdaq reported Casey’s revenues were below consensus predictions. “Diluted earnings per share for the quarter were up over 135 percent to $1.13 compared to 48 cents a year ago when you exclude the one-time benefit last year due to tax reform,” Casey’s President and CEO Terry Handley said. “And up over 50 percent year-to-date to $4.83 — excluding the one-time benefit for tax reform.” “The results were primarily driven by the effective control of operating expenses, and a stronger fuel margin compared to the third quarter of last year.” The company’s yearly same-store fuel gallons sold were down 1.4 percent, with an average margin of 20.8 cents per gallon – but the gross profit increased nearly 14 percent to $364.7 million.

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